Owner #1 - Sale
Ownership of 3255 Fortune was facing some tough questions in 2021 as the COVID-19 pandemic was in full swing. Stay in business and try to navigate uncertain waters? Or shutter and sell? They choose the latter and contacted Jon-Michael Brock for assistance. Jon-Michael and Thomas Fawcett developed 4 plans of action for the property:
- Sale-Leaseback – pull equity out of the building by selling and save business costs by leasing
- Sell & Vacate
- Lease & Landlord
- Lease & Sell
- The owner eventually decided to sell and liquidate, and Lee & Associates successfully listed and sold the property to a value-add investor.
Owner #2 - Lease
Jon-Michael and Thomas cultivated relationships surrounding this property for several years, and through dedicated partnership and extensive market knowledge, they were able to sell the asset, retain the assignment, and fully lease the property.